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2000-118
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2000-118
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Last modified
3/22/2024 12:29:35 PM
Creation date
3/22/2024 12:29:30 PM
Metadata
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Template:
Official Documents
Official Document Type
Amendment
Approved Date
04/18/2000
Control Number
2000-118
Agenda Item Number
11.E.
Entity Name
Florida Convalescent Centers, Inc.
Subject
Certificate Of Consent to Amendment Trustee & Registrar & Paying Agent
Series 1988A Bonds (Res. 2000-044)
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C. The Trustee entered into that certain Agreement Between <br />Trustee and Registrar and Paying Agent, dated as of March 1, 1988 (the "Agency <br />Agreement") between the Trustee and The Chase Manhattan Bank, as successor in <br />interest to Chemical Bank, as Registrar and Paying Agent (the "Agent"), to enable <br />the Agent to draw upon the Credit Facility on behalf of the Trustee. The Trustee <br />and the Agent wish to amend the Agency Agreement to (i) provide for the <br />acknowledgement of the assumption of the duties and obligations of Registrar and <br />Paying Agent by the Agent, as successor in interest to Chemical Bank, (ii) reflect <br />the replacement of the Replaced Letter of Credit with the Substitute Qualified <br />Credit Facility or such other Qualified Credit Facility or Alternate Credit Facility as <br />the Borrower shall, from time to time, deliver to the Trustee in accordance with <br />Section 5.07(b) of the Indenture, and (iii) reflect the replacement of The Toronto - <br />Dominion Bank with Norwest Bank, National Association, or such other Credit <br />Facility Provider that issues a Qualified Credit Facility or Alternate Credit Facility <br />as the Borrower shall, from time to time, deliver to the Trustee in accordance with <br />Section 5.07(b) of the Indenture, as the "Bank" under the Agency Agreement. <br />D. Under the terms of the Indenture, an amendment to the Agency <br />Agreement requires the Consent of the County. The Borrower has requested that <br />the County consent to such amendment of the Agency Agreement, as set forth in the <br />form of Amendment to Agreement Between Trustee and Registrar and Paying <br />Agent attached hereto as Exhibit "A" (the "Amendment"). <br />SECTION 4. CONSENT TO AMENDMENT TO AGENCY <br />AGREEMENT. The County consents to the amendment to the Agency Agreement as <br />set forth in the Amendment. The County has not, by this Resolution, approved or <br />verified any other requirement with respect to the substitution of the Substitute <br />Qualified Credit Facility for the Replaced Letter of Credit under the Indenture or the <br />Loan Agreement and assumes no responsibility to do so. <br />SECTION 5. GENERAL AUTHORIZATION. The officers, employees <br />and agents of the County acting on behalf of the County are hereby authorized and <br />directed to execute and/or countersign such documents, instruments and contracts, <br />whether or not expressly contemplated by this Resolution, and to do all acts and <br />things required by the previsions of this Resolution and by the provisions of the <br />Bonds, the Indenture, the Lean Agreement and all related documents, as may be <br />necessary for the full, punctual and complete substitution of the Replaced Letter of <br />Credit with the Substitute Qualified Credit Facility in accordance with the terms of <br />the Indenture and the Loan Agreement, or as otherwise may be necessary or <br />desirable to effectuate the purpose and intent of this Resolution, or as may be <br />requested by the Bond Trustee. <br />
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